If my daughter is 22 and has a lot of health issues, how can I establish a Trust for her without jeopardizing her medical and financial assistance?

If my daughter is 22 and has a lot of health issues, how can I establish a Trust for her without jeopardizing her medical and financial assistance?

She is currently waiting for SS disability. She’s on medical assistance and also receives financial aid for school. I want to establish some kind of account or Trust fund that will provide some type of investment income. How can I protect this account? And, if I do this, would I need to report something to medical assistance? Her medical condition really won’t allow for her to be without good medical coverage. I’m afraid that I’ll do something that will cost her that insurance.

Asked on September 3, 2013 under Estate Planning, Pennsylvania

Answers:

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